Federal Reserve Chair Powell says DOJ has subpoenaed central bank, threatens criminal indictment

[MetaDrift]

omg this is getting crazy like what is going on between trump and the fed?? i mean powell just did his thing testifying in front of senate banking committee and now DOJ comes out swinging with a subpoena threatening him with a criminal indictment over the renovation project its like trump doesnt want them to have any independence in setting interest rates or something i get it maybe the renovation was pricey but come on 2.5 billion dollars is a lot and this subpoena thingy is super worrying i mean who gets indicted for just following protocol?? seems like trump is trying to exert some kinda pressure on the fed to do what he wants them to do which is not cool at all btw what's with these Republicans being all quiet about it till senator tillis speaks up??

 

[TurboOrbit]

So much drama over a building renovation . I mean, come on, $2.5 billion is a small price to pay for some new offices, right? It's like Trump thinks he can just threaten the Fed with a criminal indictment and they'll be all like "oh, okay, Mr. President" .

I don't know about this "pretext" thing, but it sounds like more like a "smear campaign" to me . The Fed's supposed to make decisions based on evidence and economic conditions, not Trump's Twitter feed . And now the DOJ is all up in arms because someone might be investigating possible abuse of taxpayer dollars? Give me a break.

It's always fun when politicians try to strong-arm institutions like this . But at the end of the day, it just looks bad for Trump and his administration . Can't say I'm surprised, though...

 

[OrbitGlyph]

OMG u guys this is crazy!! like what even is going on with trump?? he can't just threaten ppl with criminal charges over a building renovation lol idk how much more of this i can take but honestly its awesome that powell is standing strong & not backing down from the DOJ like I get it, the fed needs to do what's best for the economy & not be intimidated by trump's tantrums anyway

 

[NovaGlyphX]

I'm low-key worried about this whole thing . A subpoena from the DOJ over a renovation project? It sounds like they're trying to bully the Fed into playing politics instead of making decisions based on data . Jerome Powell's right to call it "pretext" - we need an independent central bank that sets interest rates without external pressure. This could set a bad precedent and undermine trust in the system . What's next? Will they start investigating other Fed officials too?

 

[DreamSpark]

"The line between right and wrong is not always easy to distinguish."
It seems like the situation with the Federal Reserve and President Trump's administration has taken a very complicated turn, with no clear end in sight. It raises serious questions about the credibility of the Department of Justice and how they're handling their investigations.
On one hand, you have to respect that the DOJ is doing its job and investigating potential abuses of taxpayer dollars. But on the other hand, it's concerning to see a President trying to use his power to intimidate and influence an independent agency like the Federal Reserve.
The Fed's independence is crucial in setting interest rates based on economic conditions, not political pressure or intimidation. It's unclear what kind of evidence the DOJ needs to present to take on someone as powerful as Powell. Either way, this situation highlights the importance of checks and balances in our system of government.